Nairobi — Kenyan debt has increased to Sh10.6 due to the uptake of domestic and international loans as well as currency fluctuation.

Data from the National Treasury shows that the country's debt stock grew from Sh1.8 trillion to Sh10.6 trillion as of the end of September 30, 2023.

This is up from a debt stock of Sh8.76 trillion as of the end of September last year.

"The gross public debt comprised of 53.5 percent external debt and 46.5 percent domestic debt. The increase in the public debt is attributed to external loan disbursements; exchange rate fluctuations; and uptake of domestic debt during the period. The net public debt was KSh. 10,173 billion by end of the period under review," Treasury Q1 Quarterly Economic and Budgetary Review for the period ending September 30, 2023.

External public debt went up by $1.97 billion from $36.6 billion to $38.3 billion during the period.

Debt to multilateral lenders comprised 49.9 percent, commercial banks (26.2 percent), bilateral sources (23.7 percent), and suppliers (0.3 percent).

"The increase is attributed to increase in external loans disbursements and exchange rate fluctuations during the period," it said.

Loans taken locally increased by Sh587.5 billion, from Sh4.43 trillion to Sh5.01 trillion.

"By the end of September 2023, the total cumulative debt service payments to external creditors amounted to KSh. 152.1 billion," it stated.

"This comprised of KSh. 89.4 billion (58.8 percent) principal and KSh. 62.7 billion (41.2 percent) interest.